BW approved as offshore Brazil operator

Aug. 22, 2019

Offshore staff

OSLO, Norway – Brazil’s National Agency of Petroleum, Natural Gas and Biofuels (ANP) has granted BW Offshore status as operator in Brazil.

It has also sanctioned the transfer of Chevron and Petrobras’ participating interest in the offshore Maromba field to the company.

Maromba is in the Campos basin in 160 m (525 ft) water depth, a region BW Offshore has extensive operating experience with FPSOs.

The total acquisition price of $115 million will be paid in three installments as the development progresses toward first oil. The second milestone is due at start of drilling activities and the third at first oil or three years after the start of drilling activities, whichever comes first.

“Our effort will now be directed to shortly present a plan for development to the Brazilian authorities and start the development of this very attractive license. Maromba is expected to significantly increase our production from 2022 onwards and is a very important element in our growth strategy,” said Carl K. Arnet, CEO of BW Energy.

08/22/2019

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